From Oladele Oge
President, Staff Thrift and Credit Co-operative Society, Federal College of Education, Eha-Amufu, Enugu State, Malam Yahaya Musa Baba, has identified bad leadership, greed and corruption as the factors that threaten the smooth operation of thrift and credit co-operative society in tertiary institutions nationwide.
Yahaya said that the essence of establishing co-operative society in tertiary institutions is to alleviate the financial burden usually encountered by the workers, adding that its existence has, to a large extent, provided relief through normal loans with minimal interest to members.
Yahaya addressed reporters following his victory at the election of the cooperative society FCE Eha-Amafu. He was elected alongside his deputy, Dr Emmanuel Idu; treasurer Dr Eunice Anumudu, as well as four management committee members and three scrutinisers.
According to him, saving for future purposes is what many civil servants do these days, adding that it would be unfair and indeed painful for workers to invest and expect nothing at the end because one unscrupulous element decided to eat their sweat.
“Co-operative society has failed in many institutions of higher learning because of the insincerity of their leaders,” he began.
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“A leader of staff co-operative society holds a position of public trust and should adhere strictly to the rules of the game.
“He should embrace the virtues of a good leader because bad leadership breeds greed which also metamorphoses to corruption.
“So, a leader should be disciplined to avoid getting involved in the mismanagement of workers hard earned financial contributions.
He stated that the college co-operative society started with strong footing as its foundation was laid by staff members with integrity, fear of God and innate background of what it takes to form a formidable staff co-operative society.
He stressed that members have benefitted immensely from the society through loans for the purchase of household items, acquiring homes, and paying their children/ wards’ school fees, among others.
Similarly, Mr Chikwere Chinedu, the institution’s co-operative scribe, lamented how staff thrift and credit society has failed in some institutions because members elected some characters with questionable pedigree, who end up dipping their hands into the cooperative treasury.
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